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Libra Applies for License from Swiss Financial Regulator

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The Libra Association is apparently looking to get licensing for its payment service from the top financial regulator of Switzerland.

According to reports made on Wednesday that the Association which comprises of leading companies such as Facebook, Booking Holdings, Visa, PayPal, Xapo, Coinbase, has applied for a Swiss Financial Market Supervisory Authority (FINMA) license.

“We are engaging in constructive dialogue with FINMA and are encouraged to see a feasible pathway for an open-source blockchain network to become a regulated, low-friction, high-security payment system,” said the head of policy and communications at Libra, Dante Disparte.

“This is an important step in ...

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